Dime Community Bancshares 10-K2012 FY Annual report

Filed: 15 Mar 13, 12:00am

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Removed: administered, aforementioned, agreed, amendment, amortizing, annualized, automatically, awarded, back, bullion, CAMEL, campaign, challenging, chartering, compound, confidence, continuously, credible, curtail, declining, dislocation, dominated, expressly, fehrenbach, FHA, flexibility, flynn, fred, gathered, grew, imposing, inflow, john, marketable, OTS, permitting, predicted, preempt, purporting, quotation, realization, receiving, regulate, RSI, securitization, speed, stratification, strength, strongest, suffered, TARP, undertaken, VA, verified, vi, weaker, worldwide

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EXHIBIT 12.1

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES AND PREFERRED STOCK DIVIDENDS

(in thousands, except ratio of earnings to fixed charges)

The following table sets forth our consolidated ratios of earnings to fixed charges and preferred stock dividends for the periods shown. For purposes of computing the ratios, earnings represent income before taxes, extraordinary items and the cumulative effect of accounting changes, plus fixed charges. Fixed charges represent total interest expense plus an estimate of the interest within rental expense, including and excluding interest on deposits. Currently, the Company has no shares of preferred stock outstanding and have not paid any dividends on preferred stock in the periods shown. Therefore, the ratio of earnings to combined fixed charges and preferred stock dividends is not different from the ratio of earnings to fixed charges.

	Year Ended December 31,
	2012			2011			2010			2009			2008
Ratio of Earnings to Fixed Charges and Preferred Stock Dividends (Including Deposits):
Earnings:
Income before income taxes	$	67,198		$	78,897		$	70,250		$	40,275		$	42,187
Add: Fixed charges, net		87,121			70,422			80,746			99,027			112,434
Income before income taxes and fixed charges, net		154,319			149,319			150,996			139,302			154,621
Fixed charges
Interest expense	$	86,112			69,714			79,413			97,685			111,302
Estimate of interest (1/3) within rental expense		1,009			708			656			787			652
Interest on unrecognized tax benefits		-			-			677			555			480
Total fixed charges		87,121			70,422			80,746			99,027			112,434
Ratio of Earnings to Fixed Charges		1.77	x		2.12	x		1.87	x		1.41	x		1.38	x

Ratio of Earnings to Fixed Charges and Preferred Stock Dividends (Excluding Deposits):
Earnings:
Income before income taxes	$	67,198		$	78,897		$	70,250		$	40,275		$	42,187
Add: Fixed charges, net		64,333			44,291			31,324			56,235			52,456
Income before income taxes and fixed charges, net		131,531			123,188			101,574			96,510			94,643
Fixed charges
Interest expense (excluding deposits)		43,583			43,583			29,991			54,893			51,324
Estimate of interest (1/3) within rental expense		1,009			708			656			787			652
Interest on unrecognized tax benefits		-			-			677			555			480
Total fixed charges		44,592			44,291			31,324			56,235			52,456
Ratio of Earnings to Fixed Charges		2.95	x		2.78	x		3.24	x		1.72	x		1.80	x

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